Novagold Resources Inc [AMEX: NG] jumped around 1.24 points on Tuesday, while shares priced at $4.35 at the close of the session, up 39.87%.
Compared to the average trading volume of 2.60M shares, NG reached a trading volume of 24974616 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Novagold Resources Inc [NG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NG shares is $6.39 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NG stock is a recommendation set at 2.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
National Bank Financial have made an estimate for Novagold Resources Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 20, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on February 07, 2022, representing the official price target for Novagold Resources Inc stock. Previously, the target price had yet another raise to $7, while B. Riley FBR Inc. analysts kept a Buy rating on NG stock.
How has NG stock performed recently?
Novagold Resources Inc [NG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 53.17. With this latest performance, NG shares gained by 28.32% in over the last four-week period, additionally plugging by 20.50% over the last 6 months – not to mention a rise of 41.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NG stock in for the last two-week period is set at 77.05, with the RSI for the last a single of trading hit 84.70, and the three-weeks RSI is set at 71.41 for Novagold Resources Inc [NG]. The present Moving Average for the last 50 days of trading for this stock 3.11, while it was recorded at 3.27 for the last single week of trading, and 3.62 for the last 200 days.
Novagold Resources Inc [NG]: Deeper insight into the fundamentals
Novagold Resources Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 47.82 and a Current Ratio set at 47.82.
Earnings analysis for Novagold Resources Inc [NG]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Novagold Resources Inc go to -10.72%.
Insider trade positions for Novagold Resources Inc [NG]
There are presently around $60.16%, or 81.82%% of NG stock, in the hands of institutional investors. The top three institutional holders of NG stocks are: PAULSON & CO. INC. with ownership of 27.24 million shares, which is approximately 8.1458%. FIRST EAGLE INVESTMENT MANAGEMENT, LLC, holding 21.49 million shares of the stock with an approximate value of $$74.34 million in NG stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $$67.22 million in NG stock with ownership which is approximately 5.8102%.
